In a letter to Statkraft's board of directors Rynning-Tønnesen said he made the decision after “careful consideration” and was proud of the company’s track record during his time at the top.
Statkraft said Rynning-Tønnesen would continue in his role as president and CEO until it could appoint his replacement.
Rynning-Tønnesen worked at Statkraft for 26 years. He became its CEO in 2010 and previously served in other senior positions at the company, including as vice president of strategic planning and as chief financial officer.
The Norwegian utility was launched as a hydropower company in 1895, and Statkraft Group now claims to be Europe’s largest renewable energy producer. It has an installed wind capacity of at least 1.7GW across 63 wind farms, most of which are located in Europe. It is also developing several wind energy projects in Latin America.
“When I first joined the company in 1992, Statkraft was a Norwegian hydropower company. Today, Statkraft is a leading international renewable energy company. The journey to where we are today has been nothing short of extraordinary, and it has been a privilege to be an integral part of this chapter in Statkraft’s history,” Rynning-Tønnesen wrote in a LinkedIn post.